I This document constitutes the base prospectus of ... - Volksbank AG

If on any Interest Determination Date only one or none of the Reference Banks provides the Calculation
Agent with such offered quotations, the Interest Calculation Base for the relevant Interest
Period shall be the rate per annum which the Calculation Agent determines as being the arithmetic
mean (rounded if necessary in the way described above) of the rates, as communicated to (and at
the request of) the Calculation Agent by any two of the Reference Banks, at which such banks
were offered, as at the Relevant Time on the relevant Interest Determination Date, deposits in the
Specified Currency for the relevant Interest Period by leading banks in the relevant market; if
fewer than two of the Reference Banks provide the Calculation Agent with such offered rates, the
offered rate for deposits in the Specified Currency for the relevant Interest Period, or the arithmetic
mean (rounded as provided above) of the offered rates for deposits in the Specified Currency for
the relevant Interest Period, at which, on the relevant Interest Determination Date, the banks
(which bank or banks is or are in the opinion of the Calculation Agent and the Issuer suitable for
such purpose) inform the Calculation Agent it is or they are quoting to leading banks in the relevant
market (or, as the case may be, the quotations of such banks to the Calculation Agent). If the
Interest Calculation Base cannot be determined in accordance with the foregoing provisions of this
paragraph, the Interest Calculation Base shall be the offered quotation or the arithmetic mean of
the offered quotations on the Screen Page, as described above, on the last day preceding the Interest
Determination Date on which such quotations were offered.
(b) In the case of alternative rate determination (item 20a(viii)(B): Alternative rate Determination
shall mean the alternative rate dertermination as specifed in item 20a(viii)(B) of the Final Terms
(the Alternative Rate Determination).
(7) Interest Calculation Period is the period which is used for the calculation of interest and which corresponds
to the Interest Period or, if different, to the period determined in the Final Terms (item 27).
(8) Interest Determination Date means the date determined in the Final Terms (item 20a(viii)(A).
(9) Interest Period means each period from and including the Interest Commencement Date to and including
the calendar date preceding the first Interest Payment Date, and each successive period from and including
the Interest Payment Date to and including the calendar day which precedes the immediately following
Interest Payment Date. The Interest Period may be determined otherwise according to the Final Terms
(item 20(i)) and/or may be subject to adjustments.
(10) Day Count Fraction means, with respect to the calculation of interest on a Note for a period of time (the
Calculation Period):
(a) In the case of Actual/Actual (ICMA) (see Final Terms item 25):
(i) If the Calculation Period is equal to or shorter than the Interest Period during which it
falls, the number of days in the Calculation Period divided by the product of (A) the number
of days in such Interest Period and (B) the number of Interest Periods in one year.
(ii) If the Calculation Period is longer than one Interest Period, the sum of: (A) the number of
days in such Calculation Period falling in the Interest Period in which it begins divided by
the product of (x) the number of days in such Interest Period and (y) the number of Interest
Periods in a year, and (B) the number of days in such Calculation Period falling in the
next Interest Period divided by the product of (x) the number of days in such Interest Period
and (y) the number of Interest Periods in a year.
(b) In the case of 30/360 (see item 25 of the Final Terms):
The number of days in the respective Calculation Period divided by 360 (whereby the number of
days are to be calculated on the basis of a year of 360 days with 12 30-day months (unless (A) the
last day of the Calculation Period is the 31st day of a month but the first day of the Calculation Period
is a day other than the 30th or 31st day of a month, in which case the month that includes that
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